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After experiencing a sales dip of nearly 4% in 2009, the global market for salon hair care products has started to recover from the economic downturn. Following a series of successful new launches and product revamping, the segment has registered a positive gain in sales across all regional markets, with Latin America being the fastest growing region.
Among Latin American countries, Brazil's beauty industry went through significant transformation and expansion over the past decade, thanks to its rapid economic development. Brazilian beauty brand owners' sales reached approximately R$30 billion and grew approximately 10% in 2010, according to Factor de Solução/The Kline Group, building momentum to dominate the global beauty market. In practically all beauty product categories, Brazil stands between the second and fifth places in global rankings.
In a professional arena, however, specifically the salon hair care market, Brazil still lags behind.
Sitting in tenth position in global rankings, Brazil accounts for about 4% of the salon hair care global market, which indicates that this channel is being underused in Brazil as a specialized retail channel for hair care products. However, growth opportunities in this sector are significantly promising, and they are intimately linked to the demographic, social and economic profile of the Brazilian society. These factors are likely to bring about important changes in the profile of this segment, offering opportunities to those who dare to innovate.
According to the newest report by Kline & Company, the salon hair care market in Brazil reached about B$700 million in 2010 at the manufacturers’ level, accounting for approximately 7% of total sales of hair care product sales in Brazil.